Bainbridge Starting on 17-Story Bethesda Apartments

If Bethesda Row has bloomed into the urban village experience, Woodmont Triangle may one day be its downtown. While no large projects have begun in the quadrant just north of Bethesda Row - though many have been planned - that is about to change in a big way. The Bainbridge Companies will begin construction this week on their 17-story, highly amenitized apartment building a few blocks north of the Bethesda Metro station. Once known as the Monty, the project will be rebranded as "Bainbridge Bethesda" by the Florida based developer.

One of the tallest projects in the area, the apartment building will feature a four-story underground parking garage and is meant to animate both the skyline and street level, the former with its height and periodically receding facade, and the latter with a new pedestrian boulevard that will feature retail and art, breaking up the block and endowing the building with a corner presence.
Some sources say the project could cost $80m to build. The selling feature, to developers, is the raised amenities, placed at the top to take advantage of views over Bethesda and Washington D.C. The building will feature a gym leading out to a 15th floor terrace and rooftop pool. "Obviously that's really expensive real estate that high that we're forgoing, but its the kind of thing that inspires people on a daily basis" says Josh Wooldridge, Senior Development Director with Bainbridge. "You just can't compare that to a gym in a basement."

The project is a long time coming, having been before the county planning board for 5 years. Bainbridge purchased the site with approvals last summer, and expected to break ground almost immediately, but equity issues have held up construction, which has been billed as nearly imminent since that time. Now Bainbridge has corralled equity partners, including Greek shipping company Restis Group and DC-based National Real Estate Advisors, along with the Department of Housing and Urban Development, to provide the needed capital, having closed on financing just two weeks ago today. Since the county adopted the Woodmont Sector Plan 6 years ago, no highrises have been built in the area (Lionsgate was planned previously).

Bainbridge will now start 3-4 weeks of demolition, followed by an estimated 18-20 months of construction. The building will take over mostly vacant retail space, replacing it with a 20-foot wide pedestrian passageway that links Fairmont and St. Elmo Streets, with retail fronting both streets. Wooldridge says design of the 7500 s.f. of retail will be finalized next year when the project is under construction.

Architects at SK&I have designed a LEED Silver project with green roof that will be notably taller than the low density architecture of Woodmont Triangle. "We'll be 5 stories taller than anything else around" says Wooldridge, although the 174-foot project will fall short of the Clark building at 200 feet. With demolition permits in hand, site work will commence immediately.

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Bethesda Highrise Sets January Start Date

Bethesda's Monty will be underway by January, say developers of the 17-story apartment building, planning what will be the neighborhood's second tallest building. Florida based developer Bainbridge Companies closed on the Monty site just this June and expect to build by "late January," the only Woodmont Triangle project with construction timelines despite the area's long list of expectant projects.

Though Bainbridge only recently acquired the land, the deal had been in the works for several years and came with the original SK&I designs and the county's approvals, leading Bainbridge to predict that demolition of the current retail stores would commence by the fall. The mid-block apartment building will feature a 20-foot wide pedestrian right of way connecting Fairmont St. with St. Elmo's Avenue with retail fronting both streets as well as the ped path, cutting the long block and giving the building a corner presence. At 174 feet plus mechanicals, The Monty - a name that current team will retain - will be slightly shorter than the 200 foot Clark building.

"It will be very tall for the area, so its going to be like a sculpture" said Senior Associate Federico Olivera-Sala. "It will be shaped in a way that will give it some articulation, it disintegrates as the building goes up, like a box at the bottom, but parts start to disappear as it rises. This is meant to animate the Skyline of Bethesda." The building will feature a gym and terrace on the 15th floor for fitness buffs that prefer a view, and four levels of below-grade parking.

The Monty will bring 200 rental units with 30 moderately priced dwelling units and should begin occupancy by early 2013, the first high-rise mixed-use project to be constructed under the Woodmont Sector Plan. The project owners hope to achieve LEED Silver certification; a minimum of LEED certified is required for projects in the area.

Bethesda, MD real estate development news

Bainbridge Buys Bethesda's Monty, Readies for Construction

A new 17-story mixed-use project may soon grace the skyline of Bethesda now that Bainbridge Companies closed on the Monty site at 4918 St. Elmo Avenue, just blocks from the Bethesda Metro. Bainbridge had been under contract with property owner Robert Hillerson since 2008 and settled just last week. The Monty will bring 200 rental units, including 30 moderately priced dwelling units, 7,200 s.f. of retail and four levels of below-grade parking to a site currently occupied by vacant one- and two-story office and retail buildings. Bainbridge worked with Hillerson and architects SK&I to gain project approval last summer and is in the process of obtaining building permits. Demolition and excavation are said to begin this fall and the entire project should deliver in October 2012.

According to Thomas Keady, President of Development for Bainbridge, the project receive unanimous approval from the Maryland National Capital Park and Planning Commission (MNCPPC) and will be the first high-rise mixed-use project to be constructed under the Woodmont Sector Plan. Keady said his firm, which has projects along the east coast but is concentrated in Florida, chose the location because of its proximity to the Metro, restaurants and shops, scoring high for walkability.

The design team at SK&I includes Senior Associates Federico Olivera-Sala and Marty Towles. Olivera-Sala said the relatively low-density of the remainder of the block, which is populated by three- and four-story buildings, posed a challenge for the design team in creating a tall but contextual structure. The chosen design features several setbacks and varying levels of volume,"it's very 3-D," said Olivera-Sala. Towles explained that the setbacks are planned in different directions on different levels: the second story setback acknowledges the height of neighboring street-level buildings and offers a courtyard area, a sixth-story setback creates the wings of the building, and the fifteenth-story setback creates a terrace that connects to the party and exercise rooms. The breaks in the facade also effectuate a plan to minimize shadows on the street.

The design calls for a largely brick face in three different colors to emphasize the varying volumes of the building, and includes an 18-20 foot wide cut-through between St. Elmo and Fairmont Avenues, which Towles described as a "good way to energize mid-block. The retail will front three sides, including the new cut-through. Olivera-Sala said the Monty will have windows on all four sides: "the building basically has no back." Towles added "the thing that is exciting...is that the owner put so many amenities up in the air, creating opportunities for great views" as people exercise or party on the 15th floor. The project owners hope to achieve LEED Silver certification; a minimum of LEED certified is required for projects in the area.

Bethesda, MD real estate development news